Correspondent, Chicago
James's Feed
Oct 22, 2013

Caterpillar dealer report offers little hope for third-quarter earnings

CHICAGO (Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) released unaudited dealer sales data on Tuesday – one day ahead of its scheduled third-quarter earnings – that showed continued weak demand for its machinery and engine products.

The Peoria, Illinois-based company, the world’s largest maker of construction and mining equipment, said global dealer sales of its yellow earthmoving machines were down 9 percent year-over-year in September.

Oct 22, 2013

Caterpillar dealer report offers little hope for 3rd-qtr earnings

CHICAGO, Oct 22 (Reuters) – Caterpillar Inc released
unaudited dealer sales data on Tuesday – one day ahead of its
scheduled third-quarter earnings – that showed continued weak
demand for its machinery and engine products.

The Peoria, Illinois-based company, the world’s largest
maker of construction and mining equipment, said global dealer
sales of its yellow earthmoving machines were down 9 percent
year-over-year in September.

Oct 22, 2013

Harley-Davidson profit rises; shipment forecast unchanged

Oct 22 (Reuters) – Harley-Davidson Inc reported
higher quarterly earnings on Tuesday, lifted by the normal
summer surge in motorcycle sales in its key North American
market, but it kept the full-year forecast for its global
shipments unchanged.

The Milwaukee-based company posted a third-quarter profit of
$162.7 million, or 73 cents a share, up from $134.0 million, or
59 cents a share, a year earlier.

Oct 21, 2013

Analysis: U.S. ‘war on coal’ may be good fight for some manufacturers

CHICAGO (Reuters) – When the Obama administration unveiled new emission regulations for coal-fired power plants earlier this year, the National Association of Manufacturers (NAM) blasted the proposed rules, saying they would hurt its members “twice” – as energy users and as polluters “next in line” for such rules.

Last Tuesday, a NAM-supported effort to challenge the rules cleared an important hurdle when the U.S. Supreme Court agreed to hear arguments in the case. The regulations, which critics call a “war on coal,” will cost industry “tens of billions of dollars per year,” according to the petition to the high court.

Oct 21, 2013

US ‘war on coal’ may be good fight for some manufacturers

CHICAGO, Oct 21 (Reuters) – When the Obama administration
unveiled new emission regulations for coal-fired power plants
earlier this year, the National Association of Manufacturers
(NAM) blasted the proposed rules, saying they would hurt its
members “twice” – as energy users and as polluters “next in
line” for such rules.

Last Tuesday, a NAM-supported effort to challenge the rules
cleared an important hurdle when the U.S. Supreme Court agreed
to hear arguments in the case. The regulations, which critics
call a “war on coal,” will cost industry “tens of billions of
dollars per year,” according to the petition to the high court.

Oct 17, 2013

Winnebago’s profit rises, driven by rebounding RV demand

CHICAGO (Reuters) – Winnebago Industries Inc, the No. 1 U.S. motor-home manufacturer, reported a stronger-than-expected quarterly profit on Thursday and said its backlog continued to grow due to rebounding demand from both dealers and consumers.

The news sent its shares up more than 3 percent in mid-morning trading on the New York Stock Exchange.

Oct 17, 2013

Winnebago posts a higher-than-expected profit; shares rise

CHICAGO, Oct 17 (Reuters) – Winnebago Industries Inc
, the No. 1 U.S. motor-home manufacturer, reported a
stronger-than-expected quarterly profit on Thursday and said its
backlog continued to grow due to rebounding demand from both
dealers and consumers.

Its shares rose more than 5 percent in early trading on the
on the news.

The company, small but closely watched because of the view
it provides on spending on big-ticket discretionary items, said
its sales order backlog grew for the sixth consecutive quarter -
a reflection of dealer optimism about the economic recovery.

Oct 16, 2013

American wallets tighten up in government shutdown

DETROIT/CHICAGO (Reuters) – A deal over the U.S. budget crisis and government shutdown cannot come soon enough for many companies.

American consumers have put away their wallets, at least temporarily, avoiding purchases of big-ticket items like cars and recreational vehicles while Republican and Democratic Party lawmakers argue over fiscal policy.

Oct 2, 2013

Shutdown, debt fight highlight Republican distance from ‘big business’

By Gabriel Debenedetti and James B. Kelleher

(Reuters) – Big business, a traditionally powerful but pragmatic player in Republican policy-making, has found itself outflanked and marginalized by smaller conservative groups opposed to compromise in the country’s current fiscal crisis and the looming showdown over the debt ceiling.

As the shutdown of the government approaches its third day, business leaders and groups like the U.S. Chamber of Commerce are worried about the economic implications of a standoff over the debt limit, but their pleas have not moved the Republican leadership in the House of Representatives to action. Meanwhile right-wing groups like the Club for Growth and Heritage Action have gained traction, particularly as Tea Party-aligned lawmakers rise in prominence.

Sep 27, 2013

CEOs take familiar, frustrating path to Washington on budget woes

By James B. Kelleher and Patricia Kranz

(Reuters) – Some of America’s leading CEOs are beating a familiar path to Washington to support a stopgap bill to raise the U.S. borrowing limit and avert a government shutdown, warning lawmakers that the specter of the first debt default in the country’s history and a credit downgrade is damaging the economy.

The business leaders, all members of a group called “Fix the Debt,” said they went to Capitol Hill last week with a simple message for Republicans and Democrats, but it is the same as the one they delivered in budget standoffs of 2011 and 2012.